Johnson Controls withdraws from A123 Systems bankruptcy auction

       Johnson Controls withdraws from A123 Systems bankruptcy auction

PR Newswire

MILWAUKEE, Dec. 9, 2012

MILWAUKEE, Dec. 9, 2012 /PRNewswire/ --Johnson Controls officially withdrew
from the bankruptcy auction to acquire portions of A123 Systems when it
declined to match a higher bid submitted by Wanxiang. Subsequently A123
representatives have announced they selected Wanxiang's bid of $257 million as
the best offer for the total company over a set of competing complementary
bids by Johnson Controls for the automotive and government assets and NEC for
the grid and commercial assets.

The final sale is subject to approval by the bankruptcy court. A hearing is
currently scheduled for Dec. 11, 2012. Sale to Wanxiang is also subject to
review by the Committee for Foreign Investment in the United States (CFIUS)
and requires approval by the U.S. government. Timing for such review and
approvals is unknown at this time.

"While A123's automotive and government assets were complementary to Johnson
Controls' portfolio and aligned with our long-term goals, Wanxiang's offer was
beyond the value of those assets to Johnson Controls," said Alex Molinaroli,
president, Johnson Controls Power Solutions. "Reports by other parties that
our proposal involved an elimination of jobs in Michigan are inaccurate."

Johnson Controls was the first in the world to produce Li-ion batteries for
mass-production vehicles, and also launched the first U.S. facility to produce
complete Li-ion battery cells and packs for hybrid and electric vehicles, in
Holland, Mich. The company was recently named as one of the industry leaders
in the Joint Center for Energy Storage Research $120 million energy research
hub led by Argonne National Lab and funded by the U.S. Department of Energy
(DOE). In 2009, Johnson Controls was awarded a $299 million matching grant by
the DOE under the American Recovery and Reinvestment Act (ARRA) to build
domestic manufacturing capacity for advanced batteries for hybrid and electric
vehicles.

"Johnson Controls remains committed to the advanced battery industry and
shares the Department of Energy's goal to advance the domestic capability in
the United States," said Molinaroli.

About Johnson Controls
Johnson Controls is a global diversified technology and industrial leader
serving customers in more than 150 countries. Our 170,000 employees create
quality products, services and solutions to optimize energy and operational
efficiencies of buildings; lead-acid automotive batteries and advanced
batteries for hybrid and electric vehicles; and interior systems for
automobiles. Our commitment to sustainability dates back to our roots in 1885,
with the invention of the first electric room thermostat. Through our growth
strategies and by increasing market share we are committed to delivering value
to shareholders and making our customers successful. In 2012, Corporate
Responsibility Magazine recognized Johnson Controls as the #5 company in its
annual "100 Best Corporate Citizens" list. For additional information, please
visithttp://www.johnsoncontrols.com.

About Johnson Controls Power Solutions
Johnson Controls Power Solutions is the global leader in lead-acid automotive
batteries and advanced batteries for Start-Stop, hybrid and electric
vehicles. Our 50 manufacturing, recycling and distribution centers supply
more than one-third of the world's lead-acid batteries to major automakers and
aftermarket retailers. Through our innovations we are building the advanced
battery industry for hybrid and electric vehicles. We were the first company
in the world to produce lithium-ion batteries for mass-production hybrid
vehicles. Our commitment to sustainability is evidenced by our world-class
technology, manufacturing and recycling capabilities.

         Rebecca Fitzgerald

CONTACT: (414) 524-2945

         Rebecca.K.Fitzgerald@jci.com



SOURCE Johnson Controls

Website: http://www.johnsoncontrols.com
 
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